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MCDM with Applications in Economics and Finance

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Soft Computing in Economics and Finance

Part of the book series: Intelligent Systems Reference Library ((ISRL,volume 6))

Abstract

In this chapter, the problems typical for multiple criteria decision making (MCDM) are analyzed and new solutions of them are proposed as well. The problem of appropriate common scale for representation of objective and subjective criteria is solved using the simple subsethood measure based on the α-cut representation of fuzzy values. To develop an appropriate method for aggregation of aggregating modes, we use the synthesis of the tools of type 2 and level 2 fuzzy sets. As the result, the final assessments of compared alternatives are presented in the form of fuzzy valued membership function defined on the support composed of considered alternatives. To compare obtained fuzzy assessments we use the probabilistic approach to fuzzy values comparison. In is shown that investment evaluation problem is frequently a hierarchical one and a new method for solving such problems, different from commonly used fuzzy analytic hierarchy process (AHP) method, is proposed. The developed methods are used for the solution of the stock ranking problem based on the multiple criterion decision making and optimization in the fuzzy setting and for multiple criteria fuzzy evaluation and optimization in budgeting.

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  1. Ludmila Dymowa
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© 2011 Springer-Verlag Berlin Heidelberg

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Dymowa, L. (2011). MCDM with Applications in Economics and Finance. In: Soft Computing in Economics and Finance. Intelligent Systems Reference Library, vol 6. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-17719-4_4

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  • DOI: https://doi.org/10.1007/978-3-642-17719-4_4

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-17718-7

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